BSM 100 MIDTERM
industrial revolution 1700-mid-1800s - answer mass production
-factories
work specializations
efficiency
entrepreneurship era (second half of 1800s) - answer industrial titans
wealth creation
increase in living standard
competition
exploitation
Production Era (early 1900's) - answer assembly line
refining production
productivity gains
decrease costs
hard sell
no customer focus
marketing era (1950s) - answer consumer power
growth in consumerism
product differentiation
customer focus
relationship era - answer long term relationship
satisfied customer
use of technology
revenue - answer total income that business makes
total amount of the money received during a given period for goods sold and services
rendered and from other financial sources
profit - answer how much a business makes after all expenses, such as resources,
employment, etc.
economic growth - answer increase in the production of goods and services in an
economy, often per capita.
different kind of Canadian stakeholders - answer shareholders
customers
surrounding communities
, environmentalists
dealers (retailers)
employees
government leaders
suppliers
media bankers
stakeholders of instagram - answer facebook (owns ig)
ios and androids
content creators and influencers
companies and business that use it for marketing
political parties
people who uses ig
app store- retailers
ig employees
stakeholders - answer All the people who stand to gain or lose by the policies and
activities of a business and whose concerns the business needs to address.
Entrepreneur - answer A person who starts up and takes on the risk of a business.
also risk time and money to manage a business
risk of an entrepreneur - answer failure
unexpected outcomes
not achieving goals
losing money
embarassment
factors of production - answer land
labor
capital
entrepreneurship
knowledge
role of entrepreneurship in Canada - answer major employer
major contributor to GNP
source of innovation
source of large companies
source of satisfaction to entrepreneurs
source of satisfaction to customers
goods - answer tangible products that we use to satisfy our wants and needs
services - answer tangible products (that cannot be held in your hand) such as
education, health care, insurance, etc.
industrial revolution 1700-mid-1800s - answer mass production
-factories
work specializations
efficiency
entrepreneurship era (second half of 1800s) - answer industrial titans
wealth creation
increase in living standard
competition
exploitation
Production Era (early 1900's) - answer assembly line
refining production
productivity gains
decrease costs
hard sell
no customer focus
marketing era (1950s) - answer consumer power
growth in consumerism
product differentiation
customer focus
relationship era - answer long term relationship
satisfied customer
use of technology
revenue - answer total income that business makes
total amount of the money received during a given period for goods sold and services
rendered and from other financial sources
profit - answer how much a business makes after all expenses, such as resources,
employment, etc.
economic growth - answer increase in the production of goods and services in an
economy, often per capita.
different kind of Canadian stakeholders - answer shareholders
customers
surrounding communities
, environmentalists
dealers (retailers)
employees
government leaders
suppliers
media bankers
stakeholders of instagram - answer facebook (owns ig)
ios and androids
content creators and influencers
companies and business that use it for marketing
political parties
people who uses ig
app store- retailers
ig employees
stakeholders - answer All the people who stand to gain or lose by the policies and
activities of a business and whose concerns the business needs to address.
Entrepreneur - answer A person who starts up and takes on the risk of a business.
also risk time and money to manage a business
risk of an entrepreneur - answer failure
unexpected outcomes
not achieving goals
losing money
embarassment
factors of production - answer land
labor
capital
entrepreneurship
knowledge
role of entrepreneurship in Canada - answer major employer
major contributor to GNP
source of innovation
source of large companies
source of satisfaction to entrepreneurs
source of satisfaction to customers
goods - answer tangible products that we use to satisfy our wants and needs
services - answer tangible products (that cannot be held in your hand) such as
education, health care, insurance, etc.
